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Crimea's Simferopol airport upgrade to cost over $1 billion

September 10, 2014, 15:59 UTC+3 SIMFEROPOL

Acting Crimea’s Head Sergei Aksyonov previously said five major Russian airport operators are interested in investing in the airport

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© ITAR-TASS

SIMFEROPOL, September 10. /ITAR-TASS/. The Crimea has valued an upgrade and development project for an airport in the city of Simferopol at  $1.015 billion, as seen by ITAR-TASS in the official offer for potential investors Wednesday.

Under the project, the first and second runways must be repaired and a new airport complex built. The offer says direct investment is the desirable participation form, but it does not disclose where the private money will go.

The Russian government previously approved a Crimea development target program, which includes allocating over 12.939 billion rubles for the airport’s development till 2020, while the airport terminal is planned to be constructed with funds from a private investor.

Acting Crimea’s Head Sergei Aksyonov previously said five major Russian airport operators are interested in investing in the airport.

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